Sumitomo invests in Canadoil project

Sumitomo Metals has decided to take part in the Canadoil Group’s steel plate mill business in Thailand by providing technical assistance and investing in the Group, which is currently constructing a new steel plate mill in the country.  The new plate mill is scheduled to be operational in 2013 with an annual capacity of around 1.2 million mt and with the total investment of approximately USD 600 million. Sumitomo Metals has invested USD 50 million into the Canadoil Group’s holding company. With this investment, Sumitomo Metals will acquire the capacity to manufacture around 0.3 million tons annually from 2013.

Previous articleNexans wins umbilicals contract
Next articleBaobab obtains ELF for project
Stainless Steel World is part of The KCI Media Group, a group of companies focused on building and sustaining global communities in the flow control industries. We publish news on a daily basis and connect business-to-business professionals through our online communities, publications, conferences and exhibitions.